Page 8 - Walmart

Flipkart burns over $3.7 billion cash in about a year till Sep 2022

E-commerce major Flipkart has burnt cash of USD 3.7 billion (about Rs 30,000 crore) in about a year ending September 2022, according to regulatory filings. Flipkart had USD 1 billion in cash in July 2021, which came down to USD 887 million by September 2022. The company, in July 2021, raised USD 3.6 billion (about Rs 29,000 crore), which has been completely exhausted, according to regulatory filings of Flipkart and Walmart. It is the biggest cash burn in a year by any new-age company in the country, according to industry estimates. A Walmart regulatory filing shows that the company had approximately USD 1.1 billion as of July 31, 2022. "As of July 31, 2022, and January 31, 2022, cash and cash equivalents of USD 3.5 billion and USD 4.3 billion, respectively, may not be freely transferable to the US due to local laws or other restrictions. "Of the USD 3.5 billion on July 31, 2022, approximately USD 1.1 billion can only be accessed through dividends or intercompany financing arrange

Walmart-owned PhonePe to enable UPI activation on Aadhaar-based OTP

The Walmart-owned firm said this will now enable several millions of Indians to become a part of the UPI ecosystem seamlessly

Gatik's driverless B2B delivery service gains pace in US and Canada

The middle-mile segment, unlike long-haul transport or last-mile delivery to an end consumer, involves business-to-business (B2B) operations, mostly from a warehousing location to a retail centre

CVS Health, Walmart, Walgreens to pay $13.8 bn in Opioid painkillers case

This resolves thousands of US state, local and tribal govt lawsuits accusing them of mishandling opioid painkillers

Flipkart India FY22 revenue at Rs 51,176 cr, loss widens 39% to Rs 3,404 cr

The B2B arm of Walmart-owned e-commerce firm Flipkart reported expenses of Rs 54,580 crore, up about 19% over the previous year

Walmart India FY22 loss widens to Rs 299 cr; revenue up 7% to Rs 5,350 cr

Wal-Mart India Pvt Ltd, which operates Best Price Flipkart wholesale stores, has witnessed its loss widening to Rs 299.01 crore in FY22 despite its revenue from operations going up, according to financial data accessed by business intelligence platform Tofler. Wal-Mart India, in which Flipkart acquired 100 per cent interest in July 2020, had reported a net loss of Rs 200.80 crore in FY21. The company's revenue in FY22 grew 6.9 per cent to Rs 5,349.98 crore as compared to Rs 5,004.88 crore for the financial year ended on March 31, 2021. Its total income also went up 6.40 per cent to Rs 5,361.72 crore for the financial year that ended on March 31, 2022. It was Rs 5,038.75 crore in FY21. Wal-Mart India's revenue from other income was at Rs 11.73 crore in FY22. Its total expenses in FY22 were at Rs 5,660.74 crore, up 8.03 per cent in comparison to the previous year. Flipkart Wholesale stores sell personal care products, home care appliances and laundry utilities besides staples, spic

Flipkart's net loss widens 51% on account of rising transportation costs

Flipkart's operating loss or EBITDA (earnings before interest, taxes, depreciation, and amortisation) loss stood at Rs 3,925 crore, which was up from Rs 2,267 crore in the previous fiscal

Walmart reportedly raising up to $3 bn for Flipkart to expand India biz

Retail giant Walmart is reportedly raising up to $3 billion for its e-commerce giant Flipkart to further expand its operations in the country

Flipkart to raise up to $3 bn to expand product range in India: Report

Walmart Inc-backed Flipkart is considering raising $2 billion to $3 billion at a valuation of more than $40 billion to expand its product range in India

Economy lightens up on festive season demand as shoppers back in force

Online marketplaces Amazon.com Inc., and Walmart Inc.-owned Flipkart saw sales jump 27% from a year ago to $5.7 billion during the festival season's first sale between Sept. 22-30

Walmart-backed PhonePe in talks to raise funds at $12 bn valuation: Report

Indian digital payments firm PhonePe is in talks to raise funds in a round led by General Atlantic at a valuation of $12 billion

Walmart's PhonePe investing $200 mn to set up data centres in India

The Bengaluru-based firm is setting up data centres in India at a time when it has completed three steps to move its domicile to India

Flipkart spent $1.1 billion from February to July, shows Walmart filings

The firm has also has been an active investor in the ecosystem and has a portfolio of investments in many companies

PhonePe completes process to move domicile from Singapore to India

All businesses, and entities now owned by and consolidated under PhonePe Pvt Ltd-India

Walmart on a drive to attract Indian sellers to its Canadian marketplace

The US retail giant operates more than 400 stores and is one of the largest online retailers and fastest growing marketplace platforms in Canada

Walmart India team playing key role in innovation: CEO Doug McMillon

He added that they've changed the way people spend and save and their perception of value as well as how they travel, communicate, and work

Wall Street: Dow, S&P 500 gain on retail earnings boost; US yields rise

Walmart sees smaller profit drop this year; Home Depot beats sales estimates; US yields rise as retail data points to more Fed tightening

Walmart expects smaller profit drop in 2022 as discounts drive demand

The retailer spooked markets across the globe last month when it slashed its profit forecast and warned that consumers were pulling back on discretionary purchases at a far greater pace than feared

Walmart cuts 200 corporate jobs as weak demand, bloated inventory weigh

Walmart will also add an unspecified number of jobs in areas such as e-commerce, health and wellness, ad sales and supply chain

Walton family loses $11.4 bn after Walmart slashes earnings outlook

The Walton family fortune fell $11.4 billion on Tuesday after Walmart Inc slashed its earnings outlook for the second time this year